Basware A/S

Automate and streamline the entire source-to-pay cycle with Basware, gaining visibility across the entire process including 100% of suppliers & spend.

WHAT IS SOURCE-TO-PAY?

Source-to-pay, commonly referred to as S2P, is the end-to-end process and stages that organisations go through to source, order and pay for goods or services.

A full S2P process includes and covers all procure-to-pay stages, but includes the addition of strategic sourcing and vendor selection at the front-end of the procure-to-pay process giving 100% spend visibility from the point of vendor onboarding and selection to payment.

Features of Source-To-Pay Automation

True visibility into 100% of your data and actionable insights to improve your procure-to-pay process.

ARE YOU STRUGGLING TO FIND A WAY TO TURN ALL THE DATA RUNNING THROUGH YOUR SYSTEMS INTO BUSINESS INSIGHTS?

Easy access and the ability to analyse all the available information changes the way organisations do business. Basware Analytics is a single, centralised platform that consolidates all your data, delivers 100% visibility across your operations, and gives you the ability to accurately forecast spend into the future.

With Basware Analytics, organisations can:

• Identify savings potential by gaining visibility over 100% of spend.
• Increase automation efficiency by identifying bottlenecks throughout the P2P process.
• Achieve high-performing supply chains by analysing supplier performance and quality.
• Optimise cash flow and opportunities to increase working capital by generating predictions on upcoming payments and spend commitments.

HOW BASWARE ANALYTICS CAN HELP

Basware Analytics is a data visualisation tool that gives you powerful insights into 100% of your financial data - prioritising opportunities for process improvement, savings, and growth. This all-in-one analytics solution is fully integrated with Basware Procure-to-Pay solutions and provides numerous out-of-the-box dashboards, prescriptive and predictive analytics, as well as market-leading technology in self-service reporting.

Analyse Spend to Identify Savings Potential

Capture all your invoice data electronically, automate matching and invoice workflows, and accelerate the invoice processing cycle.

WHAT IS AP AUTOMATION?

Accounts payable automation (also referred to as AP automation) aims to optimise the process of receiving and processing of supplier invoices. AP automation enables more of your AP process to be touchless, meaning that most tasks are automated, requiring minimal human effort.

WITH AP AUTOMATION ORGANISATIONS CAN:

• Receive all invoice data digitally and guarantee 100% data capture
• Gain 100% spend visibility through complete and high-quality invoice data
• Rid themselves of redundant manual work and let digital services cover repetitive tasks
• Minimise exception handling through modern technology
• Better seize early payment discounts through faster invoice processing

HOW BASWARE CAN HELP

Lower procurement costs and reduce maverick spend. Increase supplier collaboration and mitigate supply chain risk.

WHAT IS ELECTRONIC PROCUREMENT(E-PROCUREMENT)?

Electronic procurement (also referred to as eProcurement or e-procurement) is the process of buying and selling goods and services over the internet. Electronic procurement creates digital communication lines between buying organisations and their suppliers and supports the process of requisitioning, ordering, and exchange of purchase documents in the business-to-business (B2B) world.

E-procurement delivers many benefits. When done properly, organisations can:

• Drive cost savings and reliability by consolidating the supply base
• Optimise spend by reducing maverick purchases 
• Seize discounts by combining orders and purchasing in volume
• Negotiate more favorable contracts with strategic suppliers
• Strengthen supplier relationships and source innovative products and services
• Safeguard against risk and supply chain disruption
• Become a strategic business advisor to the rest of the company.

ARE YOU LOOKING TO INCREASE SPEND UNDER CONTROL AND MITIGATE SUPPLY CHAIN RISK? 

Basware delivers a comprehensive and sophisticated electronic procurement solution that enables companies to simplify their procurement operations and spend smarter by driving user adoption, supplier collaboration, and spend visibility.

HOW BASWARE CAN HELP

Basware offers the most advanced and intuitive procurement solution for organisations looking to automate their procurement processes in order to drive user adoption, better manage spend, lower processing costs and increase supplier collaboration. Procurement with Basware is so simple and intuitive that employees use it not because they are forced to but because it’s the fastest way to get things that they need.

Find the right suppliers for your business and negotiate more effectively by automating your sourcing process.

ARE YOU LOOKING FOR MORE VALUE OUT OF YOUR PROCUREMENT PROCESS THROUGH STRATEGIC SOURCING?

Basware Strategic Sourcing empowers procurement and sourcing professionals to overcome business challenges and deliver against their goals of cost savings, spend control, and risk management. By automating and integrating sourcing activities, you can reduce the time required to identify and vet new suppliers (from weeks down to days) and collect more critical financial data. 

WHAT IS STRATEGIC SOURCING?

Strategic sourcing is part of the procurement process that is responsible for identifying and contacting with suitable suppliers for the purchase of goods and services. Typically, in most organisations strategic sourcing covers the following steps:

• Analysis of organisational spend to understand where and how money is being spent.
• Identification of appropriate suppliers (who offers what) based on specific needs of the business.
• Supplier negotiations (around price, service levels, delivery schedules etc) to maximise the value and minimise the total cost of procurement.
• Handling the negotiation and contracting process with suppliers and managing the lifecycle of the contracts.
• Implementation of sourcing initiatives with relevant feedback loops for continuous improvement and optimisation.

Strategic sourcing best practices include automating sourcing events, including the auction and RFX processes, leveraging electronic workflow tools to accelerate sourcing initiatives and participating in a business network to expand the reach to new and relevant suppliers.

Automation can help you better manage your strategic sourcing objectives and deliver the following benefits:

• Increase savings and cost control by simplifying processes.
• Streamline the entire bidding, negotiation and award process to drive efficiencies.
• Increase spend under management and monitor contract compliance.
• Create stronger supplier relationships and reduce supply chain risk.  

HOW BASWARE CAN HELP

Basware delivers end-to-end functionality covering all aspects of sourcing from eRFX and eAuctions to contract management and project management. Basware Strategic Sourcing helps procurement teams become a more strategic arm of the business by optimising how money is spent and unlocking access to exclusive innovation and savings that help set the company apart from the competition.

An easy way for employees to submit expenses, while capturing all travel and expense costs as part of your organisation’s overall spending profile.

ARE YOU LOOKING TO SIMPLIFY TRAVEL AND EXPENSE MANAGEMENT TO GAIN CONTROL OVER TRAVEL SPEND AND INCREASE EMPLOYEE SATISFACTION?

Employees want an easy platform to organise travel plans and submit expense reports. Managers want a similarly simple solution for reviewing and approving travel plans and expense reports. Basware Travel and Expense Manager makes both possible.

HOW BASWARE CAN HELP

Basware Travel & Expense Management (TEM) delivers best-in-class automation and configurability for travel and expense management, designed for maximum usability. For many organizations, outdated expense and travel management software paired with complicated processes are common challenges. Basware TEM combats these challenges with advanced automation, an easy to use interface and a wide variety of configuration options.

Basware InvoiceReady™️ is a full procure-to-pay solution that is cloud-based, quick to deploy, easy to maintain and scalable as your business grows.

ACHIEVE FULL AUTOMATION WITH INVOICEREADY

Accounts Payable processes are time-consuming, error-prone, and manual. Middle market companies with growing invoice volumes are left to choose between stretching existing financial systems beyond their natural capabilities or turning to unnecessarily complicated and costly solutions built for large companies. With InvoiceReady, companies achieve completely automated invoice processing in a cost-efficient way! Capture all your invoices electronically, route them to customisable workflows for approval, and review and automatically match them to purchase orders and contracts. 

Ideal solution for companies that: 

• Process between 5,000-50,000+ invoices per year
• Have growing business needs
• Are looking for easy integration to existing ERP or accounting system in use.